Dogecoin Will Become A Payment Tool On Twitter And Tesla, Will Prices Go Up?

Dogecoin will be a payment tool on Twitter. (Pixabay)

JAKARTA – After buying Twitter, Elon Musk proposed Dogecoin as a means of payment for Twitter, including tipping. The Tesla and SpaceX founder has bought a 9.2 percent stake in Twitter. Whereas Jack Dorsey alone owns about 2 percent.

With ownership of such a large number of shares, Elon Musk was appointed to Twitter's board of directors even though he refused. Therefore Musk made several changes including a paid subscription to Twitter by implementing Dogecoin as a means of payment.

According to CryptoPotato, Musk had previously filed documents with the U.S. Securities and Exchange Commission (SEC) showing that he purchased more than 70 million Twitter shares, making him one of TWTR's two largest shareholders.

Not long after, news circulated that Musk was asked to serve on the board of directors and suggested a "significant improvement" for the social media platform with the blue bird logo. Twitter CEO Parag Agrawal welcomed the move, saying Musk would provide "great value" to the board. But Musk chose to reject the offer.

It didn't take long for Musk to outline a few propositions. In a series of tweets, he suggested that the subscription price should be lowered from $3 to $2 per month but paid 12 months in advance under certain conditions.

It doesn't stop there, he also wants pricing to be "proportionate to affordability and in local currency," as well as removing all advertising for customers.

Technoking of Tesla also proposed adding Dogecoin as a payment method. Besides being known as a DOGE supporter and investor, Musk has also adopted DOGE for payment for Tesla merchandise. In the future, Musk plans to accept the purchase of his electric car with Dogecoin.